A look at a chart shows DOM's substantial underperformance against the Gold Index and gold since hitting $6.79 in October 2007 when the gold price was well under US$1000.
KCN have obviously done their due diligence and obviously see value in this takeover for KCN shareholders, and obviously see substantial upside which they believe they can achieve from DOM's mining operations plus gold discovery prospects.
Gavin Thomas, KCN's Managing Director and Chief Executive Officer holds 2.4 million shares directly in his name plus more than 700,000 shares indirectly (eg. super fund.) Every dollar KCN loses costs him more than $3 million.
So I think it's pretty fair to suggest, with his very direct personal financial involvement, he wouldn't be interested in the slightest in this merger if he thought it would be bad for KCN's share price.
kcn coming for dom, page-21
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Last
$1.60 |
Change
-0.020(1.23%) |
Mkt cap ! $412.4M | |||
| Open | High | Low | Value | Volume |
| $1.61 | $1.61 | $1.57 | $329.5K | 207.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 2219 | $1.60 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 4648 | 3 |
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| Last trade - 13.53pm 01/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |